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Sunny D sale-leaseback hits $58M

By Inman News, Tuesday, May 29, 2007.

Sunny Delight Beverages Co. has sold and leased back three U.S. bottling facilities for a price of $58 million.

The deal's proceeds were used to pay down senior indebtedness, according to a press statement.

Angelo, Gordon & Co.'s Net Lease Group purchased the facilities, which are located in Anaheim, Calif.; Dayton, N.J.; and Atlanta, Ga.  more...

Florida industrial park signs medical supplier

By Inman News, Tuesday, May 29, 2007.

PSS World Medical Inc., which provides medical supplies to physicians nationwide, signed a long-term lease for 168,500 square feet of industrial space in Jacksonville, Fla.

The value of the transaction was not disclosed.

Pattillo Construction Co., which developed and owns the property, signed PSS to occupy Building 200 of Westside Industrial Park. The 200 building, built in 2000 and renovated this year, is situated on 25 acres at 4601 Bulls Bay Highway.

STAG buys Indiana industrial space

By Inman News, Tuesday, May 29, 2007.

STAG Capital Partners recently purchased three warehouse and manufacturing facilities totaling 466,400 square feet in Lafayette, Ind.

The total value of the transactions was not disclosed.

The first property is a 275,000-square-foot warehouse located on 12 acres at 1521 Kepner Drive. It was fully leased at the time of sale to Toyota Tsusho America Inc., a provider of distribution services.  more...

Rising rates cut into home loan apps

By Inman News, Tuesday, May 29, 2007.

Overall mortgage application activity tumbled last week as interest rates continued to climb, the Mortgage Bankers Association reported today.

The market composite index, which measures total home loan volume, dropped 7.3 percent last week on a seasonally adjusted basis from the week before, impacted strongly by a double-digit decrease in refinancings.

The index that tracks refinancings was down 13 percent from mid-May, which cut the refi share of mortgage activity to 39.7 percent of applications, and the purchase index sank 2.5 percent.  more...

Real estate rates climb overnight

By Inman News, Tuesday, May 29, 2007.

Long-term mortgage interest rates were up again Tuesday, and the benchmark 10-year Treasury bond yield gained to 4.88 percent.

The 30-year fixed-rate average increased to 5.98 percent, and the 15-year fixed rate edged up to 5.68 percent. The 1-year adjustable was also up at 5.68 percent.

The 30-year Treasury bond yield rose to 5.02 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...

Real estate plays catch-up with e-signatures Premium Content

By Glenn Roberts Jr., Tuesday, May 29, 2007.

Editor's note: More big companies, trade groups and entrepreneurs are investing in technology platforms, back-end systems and software to automate the real estate transaction, but most consumers are still closing deals the old-fashioned way. In this three-part series, Inman News eyes progress on the paperless front.  more...

Foreclosure rescue scams on the rise

By Tom Kelly, Tuesday, May 29, 2007.

Are the usual suspects returning to mortgage-related scams as a result of the subprime lending fallout? Does the practice of illegal "foreclosure rescue" operations extend even into the second-home market?  more...

Victorian gets facelift

By Bill and Kevin Burnett, Tuesday, May 29, 2007.

Q: I have a Victorian on which the porch and stairs are in dire need of replacement. The stairs are treated lumber, so I know they aren't original. The porch lumber, while original, is so dried and broken I can't make out the material.

What porch and tread material would you recommend to restore it to its Victorian roots? I see some stairs and porches in the neighborhood that are stained a dark finish. Is that appropriate to the era?  more...

State Farm in hot water over homeowner's insurance

By Robert Bruss, Tuesday, May 29, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, July 16, 2006.

Magda Benavides purchased her ground-floor condominium in 1994. Seven years later, mold was found in the exterior walls adjacent to her unit. Benavides' physician advised her to move out.  more...

Consequences to co-signing mortgage

By Robert Bruss, Tuesday, May 29, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, July 16, 2006.  more...

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Google Maps Hits the Streets

By Joel Burslem, Tuesday, May 29, 2007.
Today at the Where 2.0 conference, Google announced it has rolled out city level street view in several metropolitan areas, including San Francisco (e.g., a search for "94111"). Unlike Microsoft Virtual Earth's Birds Eye photos, which are shot from low...  more...